Minimum Wage Updates around July 1
If you see a message that looks like this, it means an End of Financial Year minimum wage update is ready:
A minimum wage update appears when the base rates and allowances in your Tanda Award are ready to be updated based on the latest Fair Work data.
1. Payroll Manager page
To update your award, you will see a "Update Award to New Year'" button show up on your Payroll Manager page, for each managed award in your account. The new rates will usually apply to your first pay period after July 1st. For example, if your current pay period is Monday 26th June to Sunday 2nd July, you should set the new rates to apply from 3rd July. If you are unsure when your rates should apply from, you should check with Fair Work.
2. Installing New Award Rates
Click the “Update Award to New Year” button on the Payroll Manager page.
You will then be prompted to choose the dates from which your new financial year starts - in most cases this is the first full pay period occurring on or after 1st July.
Once you have updated your financial year dates correctly, click the "Update Award to New Year" button to update the rates in Tanda and your accounting system.
For MYOB AccountRight Live and Xero customers, staff pay rates in your payroll system will be automatically updated before your process your next pay run. Please remember to check any staff which have a custom or above award rate applied on their profile in Tanda.
Note: if you are updating the templates just before needing to export to payroll, we recommend forcing a template update from the "Manage Award" page on each template. Please allow 20 minutes for these changes to take affect in your payroll system.
For MYOB Desktop and Reckon Accounts customers, you will need to update the rates in your payroll software after finalising your payroll for last financial year. When you click the update button, you’ll be redirected to a report of new pay rates for the new year.
If you’re unsure on any step of the process, give us a call on 1300 859 117 or email email@example.com. See the Fair Work website for more information on the Annual Wage Review process.